David Goodnight Says Risk Markets, Not Military Action, Changed Hormuz Narrative
David GoodnightAustin - The Strait of Hormuz was not blocked by mines, missiles, or military orders. It was closed by a 72-hour cancellation notice from a P&I club. Understanding that distinction matters enormously, because Iran has understood it, and is now attempting to build an alternative financial system designed to work around it. Meanwhile, a small Swiss trading firm has possibly demonstrated what it costs to get through.” What Actually Closed Hormuz On February 28, 2026, US and Israeli forces struck Iranian targets in a coordinated military operation. Within 48 hours, the Strait of Hormuz, through which roughly 20 percent of the world’s oil supply flows daily, had effectively stopped functioning as a commercial shipping corridor. By March 1, transits of all vessel types were down more than 80 percent compared to the same day the prior week. On March 2, just one crude oil tanker transited the strait. No LNG carriers moved at all. Iran did not do this. Iran threat...